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The Economic Times

Global Business / The Economic Times

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Hyundai Motor's union reaches preliminary wage deal, averting more strikes

Hyundai Motor's South Korean union reached a tentative labor agreement with management. This deal averts further production losses after the company's longest strike in a decade. The tentative agreement includes a base salary increase and performance bonuses for workers. Union members will vote on the labor deal on Monday for approval. Hyundai plans to discuss job security concerns regarding automation and artificial intelligence.

25 Aug 2026 9:15 am